Bonsai ◆
Bonsai is an all-in-one business management platform for freelancers and service teams, covering CRM, proposals, contracts, invoicing, time tracking, and expenses.
from $9/user/mo
About Wise
What is Wise?
Wise (formerly TransferWise) is a financial platform that lets you send, receive, and hold money across borders using the real mid-market exchange rate—not a marked-up one. Instead of hidden bank fees, you pay a small, transparent fee shown upfront. For businesses and individuals alike, this cuts international transfer costs by up to 8x compared to traditional banks.
Who is it for?
Wise is ideal for freelancers and remote workers paid in foreign currencies, small businesses paying international suppliers or contractors, and expats or travelers managing multi-currency finances. It is less suited for users who only send domestic payments or need complex lending products.
How does it work?
Wise holds money in local bank accounts in each country and matches your transfer with someone sending money the opposite way. This avoids expensive international wire fees and gives you the real exchange rate. You can hold 50+ currencies in one account, receive local bank details for 10+ countries, and spend globally with a linked Wise debit card.
Real use cases
Freelancers can receive payments in USD, EUR, or GBP and convert them at the real rate without losing 3-5% to bank markups. Businesses can batch pay up to 1,000 invoices at once. Travelers can spend in 150+ countries with auto-conversion at the mid-market rate, with no sneaky foreign transaction fees.
Key features
- Real exchange rate — uses the true mid-market rate, not a bank's marked-up rate
- Transparent fees — shows exact fee and exchange rate before you confirm any transfer
- Multi-currency account — hold and manage 50+ currencies in one place
- Local bank details — get US, UK, EU, AU, NZ account numbers to receive money like a local
- Wise debit card — spend in 150+ countries with auto-conversion at the real rate
- Batch payments — send up to 1,000 payments at once for businesses
- High-speed transfers — often same-day or within hours, not days
SaaSpartout Score
7.8
/10
Editorial score from our review methodology — not user ratings.
Wise Pricing
Wise pricing: Free to open · fees from 0.41% per transfer. Billing model: Freemium.
Personal Account
Free to open. Pay a low, transparent fee starting from 0.41% per transfer (varies by currency and amount). No monthly fees. Includes a multi-currency account and access to local bank details.
Business Account
Free to open. Same low fees from 0.41% per transfer. Includes batch payments (up to 1,000 at once), integration with accounting tools, and multi-user access. No monthly subscription required.
All plans have no hidden fees—Wise shows the exact cost and exchange rate before you confirm any transfer. No free trial applies as there is no monthly plan to trial; the account is free to open.
Frequently asked questions
Is Wise free to use?
Wise is free to open and has no monthly fees. You only pay a small fee when you send money, starting from 0.41% per transfer.
How do Wise fees compare to banks?
Wise uses the real mid-market exchange rate and charges a transparent fee upfront, often cutting international transfer costs by up to 8x compared to traditional banks.
Can I hold multiple currencies with Wise?
Yes, Wise offers a multi-currency account that lets you hold and manage 50+ currencies in one place.
Who is Wise best for?
Wise is best for freelancers, remote workers paid in foreign currencies, small businesses with international suppliers, and expats managing multi-currency finances.
What are the best alternatives to Wise?
Top alternatives include Revolut (for multi-currency spending), OFX (for large transfers), and XE (for competitive rates). However, Wise stands out with its transparent fees and mid-market rate.
Does Wise have a debit card?
Yes, the Wise debit card lets you spend in 150+ countries with automatic conversion at the real exchange rate, with no foreign transaction fees beyond the conversion fee.
